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henryoloyede
Nov 30, 2018 5:09 PM

Noobie TA - BTC/USD Bear Flag? 

Bitcoin / DollarBitfinex

Description

Possible bear flag? BTC hitting support at C but I dont see a recovery soon so this seems like a trap, but could trade along the flag

Take with a pinch, or maybe a handful of salt. Very inexperienced.
Comments
Floretta
Always look at volume bars especially when trading support/resistance, channels and any breakout. If volume is ramping up prior to a support or resistance level and getting closer to it , with higher volume theres a higher chance for price to break that level. In this case im guessing as you marked...bars within C and D are very low volume hence its just going sideways
Floretta
if you are using a channel you dont need to do ABCDE :) its just a channel.
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